About the Program
The West Bengal Government, in partnership with IIM Calcutta Innovation Park (IIMCIP), has launched a structured business acceleration program to foster success among innovative MSMEs or startups. Many enterprises face challenges in securing funding due to gaps in their business models and a lack of connections with potential investors. This initiative aims to bridge these gaps by nurturing investible ventures, facilitating funding opportunities, and enabling business expansion.
The program is designed to drive economic growth by fostering innovation, generating employment, and contributing to the overall development of West Bengal. By providing a structured pathway for startups to achieve scalability and financial sustainability, this initiative acts as a catalyst for building a thriving entrepreneurial ecosystem in the state. It equips businesses with the right tools, mentorship, and strategic connections to succeed in competitive markets, both locally and globally.
Program Benefits
- Training from IIM Calcutta Innovation Park on various aspects of business model.
- Guidance on Fund Raising and Pitch Deck preparation.
- One-on-one mentoring by experts from IIMCIP.
- Opportunity to pitch for funding to investors.
- Participants will gain increased visibility for their startups within the ecosystem.
- Priority access to West Bengal Government initiatives designed to promote startups.
- They will have the opportunity to pilot their projects or conduct a Proof of Concept with various government departments.
Timeline
Eligibility
- Any Innovative MSME & Startups from West Bengal that is incorporated as Pvt ltd Company/LLP under Section 2(68) of the Companies Act, 2013
- The enterprise must have been in operation for no more than 5 years
- The enterprise should either be based within West Bengal or have an interest in establishing operations in West Bengal
- The enterprise must address a problem/gap in an innovative manner
Note: An entity formed by splitting up or reconstruction of an existing business shall not be considered a Startup
FAQs
Department of MSME & Textiles of the State Government acts as nodal office in framing policies and implementing various programmes/activities and plays a pivotal role for growth and development of MSME and Textiles sectors. The Department facilitates promotion and sustainability of MSME, Textiles, Handicraft, Handloom, Khadi and Village Industries in the State.
IIM Calcutta innovation Park (IIMCIP) is a non-profit company set up under the aegis of IIM Calcutta to promote entrepreneurship and innovation and established itself as a premier hub of entrepreneurship development in East and Northeast India.
You may go to the application page https://iimcipcontest.iimcip.org/register/265f0ad4-b60d-42fd-9a6b- d09d1d65fdcd and apply.
- Acceleration: A process to provide startups with mentorship, resources, and guidance for rapid growth within a short period.
- Startup: A business entity registered for less than 7 years (10 years for biotech) with turnover not exceeding ₹25 crores, working on innovative, scalable business models.
- Mentoring: Guidance provided by experts to help individuals or businesses navigate challenges and develop strategies for success.
- Equity: Ownership interest in a company, often used to raise funds.
- Debt: Borrowed funds (e.g., loans) repaid with interest over a fixed tenure.
- Revenue Model: The framework for how a business generates revenue.
- Market Demand: The need for goods and services by customers, driving business growth.
- Differentiator: Unique aspects of a product or service that set it apart from competitors.
- Innovation: The process of improving existing products, services, or processes through new ideas or technologies.
- Enterprise: A legal business entity that operates for profit.
- Incubator: An organization that provides startups with infrastructure, resources, and mentorship to support growth.
- Problem Statement: A clear description of challenges faced by a business, guiding solutions.
- Sustainable Business: A business that generates consistent profits while remaining relevant and valuable to its customers.
- The information provided through the application will be kept strictly confidential and will be used for the purpose of the program only.
- The decision of the organizing team, regarding selection of candidates, is final, firm and binding.
- The application and/ or incubation / fellowship will be cancelled if misrepresentation of facts is found at any point of time.
- During various stages of the program the participants need to disclose information of the company.
Contact Us
In case of any question / concern of an applicant, a short form to Fill Up and Submit